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Author Archives: Tyler Barrett

Establishing Continuing Trusts for Your Beneficiaries

An advantage of the revocable living trust centered estate plan is the ability to control how distributions are made after your death. This is accomplished by drafting your revocable living trust so that following your death the property and assets of your revocable living trust continue to be held in trust for your beneficiaries. At […]

Defining Incapacity in a Revocable Living Trust

In my last post, I discussed the ability to provide for incapacity as one of the primary advantages of a revocable living trust in estate planning. Today, I look at the options estate planning clients have in regards to how their revocable living trust defines incapacity. Once the creator (a/k/a grantor) of the trust is […]

Advantages of a Revocable Living Trust

For some individuals and families, a will-based estate plan is adequate. However, others may want to think about creating a revocable living trust as the foundation of their estate plan. As compared to a will, the revocable living trust has a few distinct advantages. The first advantage of a revocable living trust is probate avoidance. […]

Elder Care by Family and Friends is Costly

Care for the elderly provided by family and friends costs $522 billion each year, a new study by the RAND Corporation found. The results of this and similar studies show the economic impact of informal caregiving. “Our findings explain the interest in workplace flexibility policies being considered by a number of states that provide paid […]

Room for Improvement in National Alzheimer’s Plan Milestones, Scientists Say

Source: EurekAlert

Ohio In Midst of Controversy Over Medicaid Annuities

The state of Ohio is facing lawsuits and criticism for denying Medicaid benefits to seniors in long-term care facilities whose spouses purchased annuities. In order to qualify for Medicaid, the applicant’s income and resources must not exceed specific limits. Typically, any transfer of assets results in a period of ineligibility for Medicaid benefits lasting five […]

Medicaid Crisis Planning

In my previous post, I discussed Medicaid as an option to help seniors cover the expense of long-term care in a nursing home or assisted-living facility. However, eligibility for Medicaid is determined based on the applicant’s available income and resources. Oklahoma has set limits such that even people of modest means may fail to qualify. […]

Medicaid Basics

Medicaid is a joint federal and state program which pays medical expenses for certain categories of needy persons, including pregnant women, children and teenagers, the blind and disabled and adults aged 65 or older. Each state has the ability to establish its own eligibility guidelines within these categories of needy persons, subject to minimum federal […]

Elder Law

In the process of updating this website, my previous blog posts were deleted (luckily for my clients, I am a lawyer and not an IT specialist). So, I’d like to take the opportunity to do a reset of sorts, to let everyone know what my law firm is all about. The focus of my practice […]